Raleigh Real Estate: The Future

The Internet has changed the way many companies do business while some still have to catch up. However, with the state of the economy and tentative forecasts for the future we may be seeing many more changes than we expect. Although the news seems to be positive regarding the future of the economy most of it is for show to attempt to regain the confidence of consumers and start up the gears of the economy again.

The Raleigh real estate market is in the same boat as all the others and it can be touch to make a living as a realtor at this time, especially since sub-prime mortgages are being used as a stick to beat the real estate market into submission, using them as the scapegoat for the financial crisis. Unfortunately there are signals to indicate that these were only a symptom versus an underlying cause meaning that the problem runs much deeper. There are voices that say we have not seen the worst of it yet which means that to be successful in any shape or form you will have to adopt a different approach compared to other Raleigh real estate agents.

The current economic model relies on Joe public picking up a paycheck every week from a large corporation, even though in reality it is no longer as prevalent. Expect to see a completely different global economic model in the future where most of the business world will be made up of small entrepreneurs and people freelancing to make their money. This means that selling real estate will also have to follow a different model. Whereas until now, most of your clients may have been people with the illusion of security given to them by a paycheck who were willing to buy a property that was much more than they could afford because they didn't realize the implications you may find that this begins to change. Especially in a market like the Raleigh real estate market where manufacturing and technology are the two driving forces of the economy.

What does this mean for you as a Raleigh real estate agent? There are both drawbacks as well as advantages. You will find yourself dealing more and more with people who are not willing to take out a mortgage irrespective of the conditions or to buy a property that is much too large or expensive for them. However, this could actually be a boon for you because it will mean that as they become more successful and earn more money they will buy a more expensive property. This means that there will be a higher turnover of properties and even though your commission per property may be lower you may find that you are shifting many more homes than you were previously.

It is likely that the concept of buying a home and living in it for 25 years will disappear as we revert to an older style where people "move up" according to their budget. The most important factor for a Raleigh real estate agent to survive and to make a decent income is to change with the times. People will still buy homes, companies will still need commercial property but the system will no longer be backed by huge corporations making the rules.